conditional commitment

conditional commitment

An agreement by a lender to extend a loan with specified terms, but only if certain conditions are met, such as retention of occupancy rates at a certain level until the time of closing,securing of key man insurance for an important manager-owner,release from a contingent liability that might impair the borrower's financial condition, or any number of other conditions.

The transaction is conditional, among other things, that Digitalist group's largest shareholder Tremoko Oy Ab will give at closing a conditional commitment limited to a period of ten trading days from the listing of the consideration shares to buy a maximum of altogether 11,250,000 consideration shares, to be agreed separately at closing, from three designated sellers after the transaction is carried out and the consideration shares are listed and if certain conditions are met.

His analysis suggests but does not pursue the kind of conditional commitment suggested above, which is designed to set incentives to induce leadership and thus to establish the scheme itself, which thereafter can be maintained in the way he describes, or through more robust if informal collective enforcement capacities.

In 2010, the department signed a conditional commitment for $8 billion in loan guarantees to support the Vogtle project, where the Southern Company and Georgia Power are building two new nuclear reactors.

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